The Department of Agricultural Economics and Nebraska Extension at the University of Nebraska-Lincoln have published video resources on farm succession for agricultural landowners, ranchers and farmers thinking about retiring, exiting or transferring the farm or ranch.
“Preparing for the Future: Farm/Ranch Transition and Succession” is a full workshop developed by Allan Vyhnalek, an extension educator who specializes in farm succession. His recent presentation in Cass County was recorded and is available as 12 short segments, organized by topic.
“We broke down the workshop into shorter segments so that you can watch as much as you want at any one time, then come back and watch the rest later,” Vyhnalek said. “This organization will allow you to think about what you have heard before going on.”
The segments cover topics like the importance of planning, proper family communication and negotiating, as well as estate planning and financial strategies.
“Retiring or passing the farm to the next generation is difficult to think about and is an admission of your own impending demise,” Vyhnalek said. “However, it is a necessary step and, with good planning, can be made as painless as possible. I encourage you to get a plan together to prepare for unexpected circumstances that we don’t always anticipate.”
The video segments and other resources on farm and ranch succession may be found at agecon.unl.edu/succession.